Inland Marine (C) LOB - Accounts Receivable and Valuable Papers

You can enter coverages for accounts receivable and valuable papers in the Commercial Inland Marine Line of Business data entry form.

To add or edit a coverage in the Commercial Inland Marine Line of Business form:

Expand the Accounts Receivable/Valuable Papers section, and then click any of the following sections to enter specific information:

Premises/Location of Records

Click New (or Edit) and enter the following information. When finished, click Add (or Update). The updated information appears in the associated grid. To add multiple entries, repeat this procedure.

Premises #	Select the location from the list. These locations were entered or identified in the Inland Marine Locations/Job Sites section of this line of business.
Applies To	Select the items that apply to the location your are entering: Accounts Receivable and Valuable Papers.
If Valuable Papers, can papers be replaced?	Indicate whether or not the insured papers can be replaced.
Accounts Receivable Coverage Information	Type: Indicate if Accounts Receivable insurance is requested on a reporting or non-reporting basis. Reporting coverage usually requires monthly reports of the applicant's total accounts receivable, and is subject to annual premium adjustment.
	At your premises, Not at your premises, In Transit, and All covered property at all locations: Limit: Type the limit for accounts receivable located on your premises, including branch locations. Deductible and Deductible Type: Enter the deductible amount and select a type of deductible. Premium: Type the cost of the coverage.
	Calculate: Click to have AMS360 total the limits and premium for All covered property at all locations.
Valuable Papers Coverage Information	Basic: Blanket Amount: Select this option for blanket coverage for all locations. Specified Amount: Choose this option for a specified amount of coverage. Enter the amount of coverage in the field provided.
	At your premises, Away from your premises, and All covered property at all locations: Limit: Type the limit for accounts receivable located on your premises, including branch locations. Deductible and Deductible Type: Enter the deductible amount and select a type of deductible. Premium: Type the cost of the coverage.
	Calculate: Click to have AMS360 total the limits and premium for All covered property at all locations.

Location of Records/Protection

Expand the Location of Records/Protection section and enter the following information.

Location of Records/Protection	Indicate the address where accounts receivable are kept. This might also appear in the Applicant Information Section (ACORD 125). If so, indicate "per ACORD 125" and list the location number.
Section of Building	Specify the section of the building where records of accounts receivable are kept. If other than office, explain. Example: Warehouse vs. office (separate fire rate) and does the floor have underwriting importance.
Fire Contents Rate	Indicate the 80% coinsurance (Basic Group I Personal Property Rate) for the section of the building where accounts receivable are usually kept.
Receptacles in which property is kept at all times when premises not open for business	Indicate the type of receptacle in which the valuable papers are stored.
Safe/Vault/Receptacle Information	Manufacturer: If records are kept in a safe, vault, or other receptacle, enter the manufacturer's name.
	Label: Select the option to indicate if the rating is based on the Underwriters Laboratories, Inc. (U.L.) or the Safe Manufacturers National Association (SMNA).
	Door Type: Indicate if the door is round or square.
	Combination Locks: Identify the presence of combination locks (Outer, Inner, and Chest) as well as their placement on the safe/vault.
	Thickness: Measurements of the door (excluding boltwork) and wall in inches.
	Construction: Specify the construction of the safe, vault or other receptacle. Example Four-inch steel door, with 12-inch reinforced stone walls.
	Class: Record the construction classification that represents the extent of fire protection for this safe or vault. Use the classification from the fire label and not the burglary label located on the safe or vault. For industry definitions of the classifications, refer to the Commercial Lines Manual.
Duplicate Record Information	Duplicate Records Kept: Indicate if duplicate accounts receivable records are kept.
	% of Records Duplicated: Indicate what percent of all accounts receivable have duplicate records.
	Period Records Kept: Indicate the number of months all duplicate records are maintained.
	Location of Duplicate Records: Indicate the address of the location where duplicate records are kept and the precise storage location or section of the building.
Burglar Alarm Information	Alarm Type: Indicate the style of alarm where the accounts receivables are stored.
	Alarm Description: Indicate any applicable features of the alarm.
	Certificate #: Alarms approved by the Underwriters Laboratories (UL) have a certificate. Record the certificate number. UL certification can apply to the entire system or to individual parts.
	Expiration Date: UL certificate expiration date.
	Grade: Grade or class (for example, A, B, C, etc.), which indicates the time required to respond to a signal from the alarm system. Refer to the manual.
	Watchpersons: Indicate the type of reporting the watchpersons do.
	# Watchpersons: The number of watchpersons on the premises retained during non-office hours.
	# Guards: The number of guards within the premises or at its door while regularly open for business.
	Installed and Serviced by: The name of the company installing and servicing the alarm system. Alarm companies often install, maintain, and service the system in addition to providing central station facilities.
Accessible Openings & Protection	Provide information regarding access to the premises. Indicate how many doors exist and if they are protected. Indicate what type of locks are used, and if there is a gate or bars.
Other Protection	Describe any other protective measures or devices. Example: Do windows have steel grates and are they connected to an alarm. Does the building have skylights or are the windows visible from the street.

What's Next?

Do you want to enter additional information in the Commercial Inland Marine Line of Business data entry form? See Inland Marine (C) for more information.

Coverage Level	Line of Business: Select this option if the coverage you are entering applies at the line of business level versus the individual premises. State: Select this option if the coverage is based on the state. Select the state. Location: Select this option if the coverage applies to the location versus the line of business, state, or individual premises.
Coverage	Select the coverage from the list.
Sort Order	Type the order that this coverage should appear in the grid and on forms.
Limit 1, Limit 2	Type the single or split limits that apply.
Premium	Type the cost of this coverage.
Ded Type	Select the deductible type.
Ded Amt	Type the deductible amount.
Exposure	Type the amount at risk.
Rate	Type the rate at which coverage is calculated.
Miscellaneous Information	Type any additional information that applies to this coverage.

Description	Describe the factor you are entering.
Factor	Enter the factor. AMS360 calculates the amount for you.

Percentage of Total Monthly Accounts Receivable Currently Represented by Deferred Payment Accounts	Percentages of total monthly accounts receivable currently represented by deferred payment accounts.
Uncollectible Accounts (Past 3 Years)	The amount of uncollectible accounts for each of the past three years by entering the year and amount.